Binance, the world's largest cryptocurrency exchange by trading volume, has introduced stringent new guidelines imposing tighter obligations on token issuers and liquidity providers. The rules, announced on March 25, 2026, are designed to enhance market transparency and integrity.
The new policy mandates that all projects listing tokens on Binance must publicly disclose their market maker's identity, legal entity, and the specific terms of their contractual agreements. Furthermore, Binance has explicitly banned profit-sharing and guaranteed-return arrangements between projects and market makers. The exchange stated that such arrangements can "create incentives that conflict with fair trading." Additionally, any token lending agreements must now clearly specify how borrowed tokens can be used.
A Binance spokesperson explained the rationale behind the move in an email, stating the rules are "intended to help projects conduct stronger due diligence on their market-maker partners and remind users to be mindful of market conditions." The company's goal is to foster "a fair and efficient marketplace, and we do not tolerate misconduct."
The policy directly targets the often-opaque market-making sector, which provides liquidity by posting buy and sell orders to facilitate trading and reduce price volatility. Binance highlighted that issues arise when these firms operate with hidden incentives, acting more like undisclosed sellers rather than neutral liquidity providers. The exchange specifically flagged problematic behaviors, including selling tokens in a manner that clashes with official release schedules, engaging in one-sided trading, and conducting activity that artificially inflates trading volume without causing natural price movements.
In its official blog post, Binance warned it would take "swift, decisive action against any misconduct," which could include blacklisting non-compliant market makers. It remains unclear whether Binance plans to publicly name the market makers it blacklists.
